1994-49666
HRA RF50I~YDri N0. 496
1
RF~OLin''rON DFSI(~TII~ Tim FIItSTAR BArIIC A D'EP061'!,'~Y
OF Pt~S OF Tim H~5Il~1G Ai~ID A[T~ITY I~t
RIQ~'III~ Fit Tim YF.E~it 1994 ArID lfPPROVIIV~ tDTdATIIt~1L
HE IT RF90~.VID by the Housing atxi Redevelopment Authority of Richfield as
follaas:
That, in aooordatr~e with law, the Firstar Hank be, and hereby is
des3.gnated a depositiary of the funds of the Housing and Redevelapmerrt
Aut~nrity, and subject do the follawir~g and eoryditiarffis:
The said depositiory shall not be required to give bonds or' other
securities for such deposits provided that the total s~sn thereof shall not at
any time e~aeed in any depository the sum for which its deposits are a*~~
tinder the Acts of Ccr>gt~ess of the Unified States relating do ~+*~~~ of bank
d~osit~; but not in case such deposits in any such depository shall at any
time e~neeed such ins~ut~d sum, said depository shall 3.mmediatiely fi n„~ iah
or othBt: secxsity far such e~neess aooomding tiD law, approved by the housing
and Redevelopment Authority of Richfield.
That said depositiory shall pay on demand all deposits there: and shall
pay all films deposits, at or after the end of the period far which the same
sl']all be deposited, On demiatld.
BE rT' Fi~R RF.90LVED, that there shall be maintained a general aoooluZt
in wYlich shall be deposited all monies. (becks a[1 this a000uC1t shall be
signed by the following officers or their facsimile signatures.
Ttnmas E. Ha.~ttns, Chairman
James D. Prosser, Executive Director
SE IT RESOLVID, that thet~e shall be a daily interest savings
aoeotmt. A11 withclrawass from said aeeoitnt will be far transfers do the
genera]. rl~efi3iiryg account.
BE IT Ali RE90LVID, that the collateral 3n the amount of $1,000,000
deposited four safekeeping at the Firstar Hank, Milwaukee, Wisconsin is hereby
~•
Passed by the F~ousing aryl Redeval~it of Richfield 17th
day of January, 1994.
.~/iL
E. Harms,
I